Greetings from NAEPC. With 2014 in the books, I am ready to enter my
37th tax season, which may be one of the most challenging yet. Congress,
of course, has not made it any easier with its last minute legislation
effectively reinstating many "extenders", and let's not forget that most
of the provisions of the Affordable Care Act are now fully effective and
we are still trying to get our arms around the Section 1411 Net
Investment Income Tax regulations.

Although I dub every tax act as the "Accountant's Continuous
Employment Act", I realize that I can't be everything to everyone and
need to work in tandem with other estate, trust, financial and income
tax professionals to consistently provide the highest value to my
clients. Teaming ensures that all of the client's advisors are on the
same page and working toward the same goal. This multi-disciplinary
teaming approach was the theme at last year's Annual Conference and will
continue to be emphasized throughout this coming year through articles
and publications posted on our "Guide
to Teaming" tab.

Didn't get to the 51st Annual Estate Planning Conference last year in
San Antonio? Don't fret. Many of our speakers will be featured as part
of the Robert G. Alexander Webinar Series, covering up-to-date planning
techniques and sharing their insights on the impact of IRS rulings,
court cases and pending legislation. It's easy to obtain more
information about upcoming programs and to register on our
website.

If you haven't visited www.NAEPC.org,
I encourage you to take a few minutes and do so. It tells the story of
who we are and what we are doing for our member councils and the
benefits that individuals have by virtue of being a part of the
organization. If you are a council leader (or if you're not, please
encourage them), consider taking a few minutes during one of your next
monthly meetings to go through the web site with your members so they
can see all of the benefits we offer, including access to publications,
articles, programs and services and how they can obtain the AEP®
designation.

Finally, in the rest of this edition of NAEPC News you will read
about what our committees are hard at work on to better serve your
council and individual members. If you have any questions, need more
information, or would like to
get involved on a
committee, I encourage you to call or email us.

Best wishes and for my accounting colleagues, many happy returns!

Who
Are We?
by Robert E. Fox, CLU, AEP®

I have been obsessed with the similarity, in essence, between
what Justice Samuel Putnam (Supreme Court of Massachusetts,
Harvard College V. Amory, 1830) said when he, in effect, created
the Prudent Man Rule. He said "Do what you will, the capital is
at hazard." The Prudent Man Rule: All that can be required of a
trustee is to invest, is, that he shall conduct himself
faithfully and exercise a sound discretion. He is to observe how
men of prudence, discretion, and intelligence manage their own
affairs not in regard to speculation, but in the permanent
disposition of their funds, considering the probably income, as
well as the probably safety of the capital to be invested.

Now look at Justice Cardozo, then speaking for the New York
Court of Appeals: "A trustee is held to something stricter than
the morals of the marketplace. Not honesty alone, but the
punctilio of an honor is then the standard of behavior. Only
thus has the level of conduct for fiduciaries been kept higher
than that trodden by the crowd, it will not consciously be
lowered by any judgment of this court." Those of us who went
through the CLU 10-part testing may well remember this.

Now, we see the similarity of Justice Putnam's decision and
Justice Cardozo's? The morality required of us as fiduciaries,
agents, sales people, CPAs, trust officers, and attorneys binds
us all and is the essence of the AEP® designation and membership
in NAEPC.

Please plan early to join us for another great Annual Conference to be
held on November 18-20, 2015, at the Omni Amelia Island Plantation in Amelia
Island, FL. We have lined up some of the best and brightest minds in estate
planning to make impactful presentations on the most recent developments in
the areas of estate, tax, trust, insurance and financial planning. The
Annual Conference is a great way to receive up to 15 hours of continuing
education credit as well. Attendees will come away with specific strategies
for putting advance planning concepts into practice in a multi-disciplinary
team environment.

Our schedule, speakers, and topics are still being firmed up and will be
posted online soon.

Set in the Sea Island chain, Amelia Island was Florida's first luxury tourist
destination and it is still winning awards today. Amelia Island is treasured for
its long stretches of quiet beaches, natural beauty, unique history, and
charming character.

If you haven't been to the newly re-imagined
Omni Amelia Island Plantation,
you are in for a treat! Your experience will begin as soon as you walk into the
renovated lobby or your spacious accommodations with sweeping panoramic views of
the Atlantic Ocean. The hotel offers an exceptional spa, award-winning kids'
camp and Nature Center, both of which offer supervised activities, and three
Audubon International Certified Sanctuary golf courses. You may also choose to
exit the hotel and experience the beauty of your surroundings by strolling 3.5
miles of pristine beaches or spending an afternoon kayaking and paddle boarding
through Amelia Island's preserved marshlands.

Mark your calendar today, and don't miss this exciting opportunity to learn
with other estate planning professionals and relax in the natural beauty of
Amelia Island. Why not consider making it a family vacation?

We look forward to seeing you in Amelia Island in November! In the interim,
watch our website for more details. Speakers and topics will be updated soon and
a save-the-date brochure is available now!

Mr. Akers is a member of the Advisory Committee to the University of Miami
Philip E. Heckerling Institute on Estate Planning and is a frequent speaker at
that Institute, as well as other estate planning seminars across the country. He
is a past Chair of the American Bar Association’s Section of Real Property,
Trust & Estate Law and continues to serve on various committees of that Section.
He is a Fellow of the American College of Trust and Estate Counsel, and
currently serves as a member of the Executive Committee, Regent, and Chair of
the Business Planning Committee. He is a past editor of the ACTEC Law Journal.
He is also a past Chair of the State Bar of Texas Real Estate, Probate and Trust
Law Section and of the Dallas Bar Probate, Trusts and Estates Section. He is a
co-author of A Planning Guide to Buy-Sell Agreements and Estate
Planning After the Tax Relief and Job Creation Action Act of 2010.

Mr. Akers will be presenting a special session just for active Accredited
Estate Planner® designees on Thursday, November 19th!

Special Needs Trusts are often an important component of an estate plan for
an individual with special needs and his or her family. Knowing which type of
Special Needs Trust (SNT) to utilize is only part of the solution. In this
webinar, Bernard A. Krooks will review the drafting issues you will need to
consider in order to ensure that the SNT offers the greatest amount of
protection and the most flexibility for the intended beneficiary. In addition,
Mr. Krooks will review significant issues which arise during the administration
of many SNTs. These issues, if not properly addressed, can result in the loss or
reduction of public benefits for the beneficiary.

Bernard A. Krooks is a founding partner of the law firm Littman Krooks LLP,
chair of its elder law and special needs department, and is a
nationally-recognized expert in all aspects of elder law and special needs
planning. He is past president of the Special Needs Alliance, a national,
invitation-only, not-for-profit organization dedicated to assisting families
with special needs planning. Mr. Krooks is past president and fellow of the
National Academy of Elder Law Attorneys, past chair of its tax section and past
editor-in-chief of NAELA News, as well as a founding member and past president
of its New York chapter and in 2008 received the chapter's Outstanding
Achievement Award for his lifelong work on behalf of seniors and those with
disabilities. Krooks is past chair of the elder law section of the New York
State Bar Association and past editor-in-chief of its newsletter, the Elder Law
Attorney. He is also a member of the trusts and estates law and tax sections of
the New York State Bar Association and co-authored the chapter entitled
"Creative Advocacy in Guardianship Settings: Medicaid and Estate Planning,
Including Transfer of Assets, Supplemental Needs Trusts & Protection of Disabled
Family Members" of its publication Guardianship Practice in New York State and
its publication Elder Law, Special Needs Planning and Will Drafting. He serves
on the editorial boards of Exceptional Parent Magazine, Trusts & Estates
magazine, and Leimberg Information Services. Krooks, a sought-after expert on
elder law, special needs planning and estate planning matters, has been quoted
in many national publications, has presented at national educational
conferences, has testified before the United States House of Representatives and
the New York City Council on long-term care issues, and has appeared on many
radio and national television programs. Krooks is past president of the Estate
Planning Council of Westchester, serves on the advisory board of The NAEPC
Education Foundation, and is a member of the New York City and Hudson Valley
Estate Planning Councils.

For decades the primary tax focus of estate planning has been in the
minimization of transfer tax costs. For over 99% of Americans, the passage of
ATRA shifted the tax focus of estate planning to income tax planning and tax
basis planning. Jeff Scroggin will discuss some of the practical traps and
opportunities in planning for the basis of assets, including pre-mortem basis
planning, planning for loss assets and why many of the previous techniques
clients previously adopted have pivoted 180 degrees.

John J. ("Jeff") Scroggin has practiced as a business, tax and estate
planning attorney in Atlanta for 36 years. Jeff serves as a member of the board
of directors of the University of Florida College of Law and as a founding
trustee of the University of Florida College of Law Tax Institute. Jeff served
on the board of directors of the NAEPC from 2002 to 2010 and was founding editor
of the NAEPC Journal of Estate and Tax Planning from 2006-2011. He was
co-editor of CCH's Practical Estate Planning from 2004 to 2006. Jeff is
the author of over 250 published articles, white papers and books. Jeff has been
quoted extensively, including 8 times in the Wall Street Journal, on
CHH Headline, National Public Radio, the New York Times, Fortune, Forbes,
Kiplinger's, Money, the International Herald Tribune, the Chicago
Tribune, The South China Post, The LA Times, Newsday, and the
Miami Herald.

Continuing education credit will be available at each webinar for Accredited
Estate Planner® designees. In addition, a certificate of completion will be
made available for those professionals who feel the program satisfies their
continuing education requirements and are able to self-file. Councils may
also file the program in their home state for programs offered in a group
setting.

Registration
Fees

$40 / Accredited Estate Planner® designee (dues must be current at the
time of registration)

$60 / member of an affiliated local estate planning council or at-large
member of NAEPC

$100 / individual non-member

$250 / council meeting or group gathering (council dues must be current
at the time of registration)

Member Benefits &
Discount Programs

All members of affiliated local councils have access to a growing and diverse
offering of benefits provided through the council's affiliation with NAEPC, a
list of which appears below. You are encouraged to visit
www.naepc.org
to take a look today. As you browse, please remember that some
benefits are password protected. For these special benefits members must utilize
a user name/password to access detailed ordering links and information. If you
are an At-large member or member of a council that utilizes passwords on a
website hosted by NAEPC, you can use the "I forgot my password" option. Others
should contact NAEPC with questions about the appropriate user name/password
combination.

The mission of the NAEPC Journal of Estate & Tax Planning is to
provide a best-in-class library of thought leadership on estate and tax
planning. We search for the best-of-the-best writing on topics relevant to all
of the disciplines that make up the estate planning community. Our core
providers include notable sources such as Leimberg Information Services, Trusts and Estates
Magazine, Commerce Clearing House, and others. Many articles on our website are
authored by members of the
Estate
Planning Hall of Fame® and AEP® designees who are writing on current,
emerging, and foundational topics. Some articles are written especially for the
NAEPC Journal and are included as the Editor's or Guest Editor's piece. Our most recent
Editor's post analyzes the legal effects of Joan Rivers' bi-coastal will and is entitled, Death and Domicile-No Joking
Matter.

Featured articles are often revised or updated for the NAEPC Journal and some
submissions come to us from surprising new sources. In sum, we look for writings
that will provide thought leadership, guidance, and direction. Our readers often
report that the Journal's articles serve as go-to resources that are helpful
time and time again.

Access to the Journal remains FREE. You can get to the Journal from the
"Quick Links" section of www.NAEPC.org, going
directly to www.NAEPCJournal.org, or
using a search engine and entering "NAEPC Journal" or your current topic of
interest. The Journal is published four times a year, but new items are often
added in between new issues.

We want to hear from you and to feature those articles that matter the most
to our planning community! Please, if you come across a Hot Topic or a Cool Tool
that would serve readers, contact Journal Co-editors Charlie Douglas at
charles.douglas@wellsfargo.com
or Susan Rounds at
susanprounds@gmail.com.

Accredited Estate
Planner® Designation Program

You have earned a gateway degree or designation and are practicing primarily
in estate planning.

You believe that the team concept of estate planning best serves your
clients.

You desire to set yourself apart from the completion.

Now is the time to earn the Accredited Estate Planner® designation.

Available to attorneys, Chartered Life Underwriters, Certified Public
Accountants, Certified Trust and Financial Advisors, Chartered Financial
Consultants, and Certified Financial Planners®, the Accredited Estate Planner®
designation was created to recognized estate planning professionals who meet
special requirements of education, experience, knowledge, professional
reputation, and character and is the only graduate designation in estate
planning.

Committee co-chairs Paul S. Viren, CLU®, ChFC®, AEP® and Kit Mac Nee, CFP®,
CRPC®, AEP®, CSPG thank each member of Council Relations Committee for their
active participation over the past 12 months and are thrilled to welcome
Lawrence J. Macklin, Esq., CPA, AEP® of Baltimore Estate Planning Council and
Kim Kamin, JD, B.A., AEP® of Chicago Estate Planning Council as new members.

There are now a record number of councils affiliated with NAEPC and the
committee has recently begun rolling out the Council of Excellence Award
program! The New Year will focus on encouraging each of the 260 councils to
apply for the Walter Lee Davis Jr. and Leonard H Neiman
Council of Excellence Award to be presented next November at the 52nd NAEPC
Annual Conference to five councils ranging in membership size. The applications
have been mailed to the contact on record for your council and are also
available
online. The awards to each council have substantial monetary value and the
application is simple, but neither is as exciting as being recognized for hard
work and dedication! If you have questions, feel free to reach out to the
national office or contact committee co-chair Kit MacNee at
kmacnee@yahoo.com.

We are looking forward to amazing year with your estate planning council.
Take a few minutes to check out our website
for all that we offer.

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